Products January 5, 2011

Van Eck Rebrands Nuclear Energy ETF

Van Eck Global has changed the name of its nuclear energy exchange-traded fund (ETF) to Market Vectors Uranium+Nuclear Energy ETF.
Reported by

A news release said the new name was selected to communicate to investors the relative weight of the uranium mining sub-sector among the seven nuclear energy sub-sectors represented in the DAXglobal Nuclear Energy Index. The Fund’s ticker symbol, NLR, remains unchanged.

Launched in August 2007, NLR seeks to replicate, before fees and expenses, the price and yield performance of the Index. In addition to companies engaged in uranium mining, the fund offers exposure to companies involved with uranium enrichment, uranium storage, equipment for nuclear energy generation, nuclear plant infrastructure, nuclear fuel transportation and nuclear energy generation.

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Products January 5, 2011

Prudential Q Shares Address Fee Transparency Needs

Prudential Investments announced the launch of its Q Share class for select mutual funds; designed to meet fee transparency needs of group retirement plans.
Reported by

The shares do not charge 12b-1 service fees and have minimal Transfer Agency fees, allowing plan providers and sponsors flexibility in choosing pricing structures.   

According to the announcement, a plan’s financial intermediary and/or recordkeeper will have the option to offer Class Q shares for eligible funds. Plans that decide to offer these shares may convert their current holdings in another share class of a Prudential fund to the fund’s Class Q shares. Eligible plans include 401(k) and 403(b) plans, Keoghs, Profit Sharing Pension plans and Simple IRA plans among others.   

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“As plan providers deal with the implementation of new government regulation for greater fee transparency, Prudential Investments is introducing the Q Share Class for select funds to help them fulfill that responsibility to plan participants,” said Michael Rosenberg, head of Prudential Investments’ Investment Only Defined Contribution group, in the announcement.  

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